NextEnergy Solar Fund Limited acquires North Farm
NESF is pleased to announce the signing and completion of three separate share purchase agreements, with unrelated counterparties, to acquire special purpose vehicles owning North Farm, Birch and Thurlestone.
North Farm is a 11.5MWp operating solar power plant that was commissioned in March 2015. The plant has been accredited under the 1.4 Renewable Obligation Certificate regime.
Birch was constructed under an Engineering, Procurement and Construction contract negotiated by NESF's investment advisor, NextEnergy Capital Limited, and has been connected since June 2015.
The Thurlestone portfolio comprises some 700 rooftops in Leicestershire which were connected between November 2012 and June 2013. Thurlestone is NESF's first acquisition of a rooftop portfolio and the Company expects to expand in this market segment.
Both Birch and Thurlestone receive the Feed-in-Tariff incentive, enabling NESF to diversify the composition of its revenue sources.
NextEnergy Solar Fund (NESF)
NESF is a specialist investment company that invests in operating solar power plants in the UK. Its objective is to secure attractive shareholder returns through RPI-linked dividends and long-term capital growth. The Company achieves this by acquiring solar power plants on agricultural, industrial and commercial sites.
NESF has raised equity proceeds of £285.6 since its initial public offering on the main market of the London Stock Exchange in April 2014. It also has credit facilities amounting to £54.2m in place.
NESF is differentiated by its access to NextEnergy Capital Group (NEC Group), its Investment Manager, which has a strong track record in sourcing, acquiring and managing operating solar assets. WiseEnergy is NEC Group's specialist operating asset management division, providing solar asset management, monitoring and other services to over 1,200 utility-scale solar power plants with an installed capacity in excess of 1.5 GW.